SBC Uses Pension Fund Earnings
To Boost the Firm's Bottom Line

By

Shawn Young Staff Reporter of The Wall Street Journal

Updated March 7, 2002 12:01 a.m. ET

SBC Communications Inc. has found an insurance policy for its earnings even if its business sags this year.

Even as SBC's pension-fund investments fell along with the rest of the market last year, the telephone concern increased its assumptions about how much its pension-fund investments would earn, a move that boosted its bottom line last year and is expected to do so again in 2002.